Leading crypto firms have reportedly made seven-figure donations to incoming President Donald Trump’s inaugural committee since the November 2024 US election.
Politico reports that Ripple, Coinbase, Kraken, Robinhood and Circle shelled out at least $10 million for Trump’s inauguration and related events.
Blockchain payments firm Ripple, which faced enforcement action from the U.S. Securities and Exchange Commission (SEC) over the sale of the XRP tokens, made the biggest donation among crypto firms.
A Ripple spokesperson says the San Francisco-based firm doled out $5 million in digital tokens to Trump’s inaugural fund. Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty also plan to attend the inauguration on Monday, January 20th.
Meanwhile, retail trading giant Robinhood, which supports cryptocurrencies in its platform, donated $2 million. US-based crypto exchanges Coinbase and Kraken along with USDC stablecoin issuer Circle contributed $1 million each.
Says Coinbase vice president for US policy Kara Calvert,
“I think it’s important to ensure that [the] industry… can engage with this administration and engage in a meaningful way during the transition period. This is the most pro-crypto president that we’ve ever seen, and he has made a platform clear now for months. And that is a really attractive characteristic right now.”
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